Lehigh Raises $8 Million for Expansion Into Europe, Asia

Lehigh Technologies, which makes rubber powder from recycled tires that can be reused in the production of new ones, has raised $8 million in a new financing round to help the Tucker-based firm expand in Europe and Asia.

New backer JSR Corp. joins existing investors to provide Lehigh with a cash injection could eventually help the company set up factories in those markets where its sales have begun to spike.

Lehigh’s Tucker factory can produce 140 million pounds of micronized rubber powder per year, helping tire manufacturers reduce the use of petroleum-based products, cutting costs and leading to more predictable supply chains while helping the environment.